Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Bluechips lead the final hour surge
Wed, 11 May Closing

Reports of lower inflation and lower commodity prices in global markets seemed to have boosted investor sentiments as the indices in Indian stock market recovered sharply in the closing hours of trade. The BSE-Sensex gained in the region of 72 points whereas NSE-Nifty closed higher by around 24 points (up 0.4%). The smaller indices also registered gains with the BSE Midcap and BSE Small cap indices both ending higher by 0.6% and 0.7% respectively. Power stocks led the declines while auto, banking and realty bluechips led the gains in the benchmark indices.

Major Asian indices also closed the day mixed with Korea seeing some gains. India lagged the pack of gainers in the Asian Region. Europe is currently trading flat to positive. The rupee was seen trading at Rs 44.67 to the dollar at the time of writing.

Power generation major NTPC declared results for the fourth quarter and fiscal year ending March 2011. The company declared 17% and 18% YoY growth respectively for the quarter and full year. The bottom line however, remained flat year on year. The capital expenditure undertaken by the company in FY11 was 22% higher than that in FY10. The approved outlay for FY12 at Rs 264 bn is more than double that of FY11. During FY11, NTPC added 2,490 MW of capacity of which 1,600 MW was declared commercial. Further 14,748 MW of capacity is under construction. Coal Linkages received for 9 new projects with a total capacity of 10,920 MW. The stock of NTPC was amongst the top losers today.

India's third-largest software services exporter, Wipro has bought a majority stake in Brazil's hydraulic cylinder maker RKM Equipamentos Hidraulicos. The acquisition will be a part of Wipro's infrastructure engineering division. The financial terms and conditions of the deal have not yet been disclosed.

Wipro Infrastructure Engineering supplies precision engineered hydraulic cylinders and components to manufacturers of construction, material handling equipment, earth moving machinery, forest equipment and medium, heavy commercial vehicles in Asia and Europe. Buying a majority stake in RKM would give the company a platform to expand and extend its product portfolio in Brazil and rest of Latin America. The stock Wipro closed marginally higher today

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Bluechips lead the final hour surge". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.